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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 10108 November 19, 1986 *1 1 1 TREASURY TO AUCTION §8,2§«J MILLION OF S-YEAM 2-MONTH NOTES To A ll Banking In stitu tions, a n d O thers Concerned, in the Seco n d F ederal R eserve D istrict: The following statement was issued by the Treasury Department: The Department of the Treasury will auction $8,250 million of 5-year 2-month notes to raise new cash. Additional amounts of the notes may be issued to Federal Reserve Banks as agents for foreign and international monetary authorities at the average price of accepted competitive tenders. Printed on the reverse side is a table summarizing the highlights of the offering. Copies of the official offering circular will be furnished upon request directed to our Issues Division (Tel. No. 212-720-6621). In addition, enclosed is a copy of the form to be used in submitting tenders for this offering. This Bank will receive tenders prior to 1:00 p.m., Eastern Standard time, Tuesday, November 25, 1986, at the Securities Department of its Head Office and at its Buffalo Branch. A ll competitive tenders, whether transmitted by mail or by other means, must reach this Bank or its Branch by that time. However, for investors who wish to submit noncompetitive tenders and who find it more convenient to mail their tenders than to present them in person, the official offering circular provides that noncompetitive tenders will be considered timely received if they are mailed to this Bank or its Branch under a postmark no later than November 24. Bidders submitting noncompetitive tenders should realize that it is possible that the average price may be above par, in which case they would have to pay more than the face value for the securities. Payment with a tender may be made in cash, by check, in Treasury securities maturing on or before the issue date of the securities being purchased, by a charge to an institution’s reserve account at this Bank, or, in the case of Treasury Tax and Loan Note Option Depositaries, by credit to a Treasury Tax and Loan Note Account. Payment by check must be in the form of an official bank check, a Federal funds check (a check drawn by a depository institution on its Federal Reserve account), or a personal check, which need not be certified. All checks must be drawn payable to the Federal Reserve Bank of New York; checks endorsed to this Bank will not be accepted. Recorded messages provide information about Treasury offerings and about auction results: at the Head Office — Tel. No. 212-720-7773 (offerings) and Tel. No. 212-720-5823 (results); at the Buffalo Branch — Tel. No. 716-849-5158 (offerings) and Tel. No. 716-849-5046 (results). Additional inquiries regarding this offering may be made by calling, at the Head Office, Tel. No. 212-720-6621, or, at the Buffalo Branch, Tel. No. 716-849-5016. E. Gera ld C o r r ig a n , President. (Over) HIGHLIGHTS OF T IE A §U 1¥ OFFERING TO THE PUBLIC OF 5-YEAM 2-MONTH NOTES TO EE ISSUE© ©ECEMEEffi. 3, 1986 A m ount Offered: To the public ..................................................... .......... $8,250 million ©©script!®® ©f Security: Term and type o f security. . . . . . . . . . . ................... 5-year 2-month notes Series and CUSIP designation .................................. Series H-1992 (CUSIP No. 912827 UH3) M aturity d a te ............................................................... February 15, 1992 Call d a te ...................................................... . . . . . . . . No provision Interest r a t e ................................................................. To be determined, based on the average of accepted bids Investment yield........................................................... To be determined at auction Premium or d isc o u n t........................ .................... To be determined after auction Interest payment d a t e s ............................................... August 15 and February 15 (first payment on August 15,1987) Minimum denom ination available........................... $ 1,000 Terms ©f Sales M ethod of s a le ............................................................. Yield auction Competitive tenders ................... .............. ................ Must be expressed as an annual yield, with two decimals, e.g., 7.10% Noncompetitive tenders ................................ ............ Accepted in full at the average price up to $1,000,000 Accrued interest payable by investor___ . . . . ____ None Paym ent by non-institutional investors ................. Full payment to be submitted with tender Paym ent through Treasury Tax and Loan (TT&L) Note A ccounts......................................................... Deposit guarantee by designated institutions......... Acceptable for TT&L Note Option Depositaries Acceptable K e y D a te s : Receipt of tenders Settlement (final payment due from institutions) a) cash or Federal funds................................ . b) readily collectible check Tuesday, November 25, 1986, prior to 1:00 p.m ., EST Wednesday, December 3, 1986 Monday, December 1,1986
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